There are now over 4.2 billion email users worldwide, making email marketing an effective way to engage with customers. You could waste time and money sending real estate emails if you’re not analyzing your campaigns, however. Knowing how to track these email marketing metrics can help you make adjustments to your campaigns. Over time, you can improve your ROI and better engage your audience.
Read on to gain a better understanding of your email marketing campaigns today.
Your email campaign’s open rate indicates how many people opened your emails. To calculate this metric, divide the number of recipients who opened the email by the number of emails sent. Open rates usually fall between 15 and 25%.
A low open rate indicates people aren’t looking at your emails. You can improve your email open rate by:
- Writing stronger subject lines
- Adjusting your timing (day and time emails are sent)
- Personalizing emails
- Sending content your subscribers want
When planning your real estate emails, consider segmenting your realtor email list. Segmentation can help you send more personalized emails. Personalizing your emails can lead to six times higher transaction rates.
Your clickthrough rate indicates the percentage of email recipients who clicked on a link within your email.
You can calculate your clickthrough rate by dividing the total number of clicks by the number of emails delivered. Multiple this number by 100 to get a percentage.
The clickthrough rate can help you better understand how well your emails are performing. You can track the clickthrough rate’s growth over time to determine if more people are engaging with your emails. This metric can also help you determine if people are interested in learning more about your offer or brand.
If your clickthrough rate is low, your engagement is low.
Try to help the links within your emails stand out. Use contrasting colors to help readers recognize the text contains a link. Consider converting your links into buttons that stand out within your emails, too.
You can improve your clickthrough rate by:
- Writing strong preview text
- Personalizing emails
- Improving your content
Make sure your emails are eye-catching, engaging, and worth the reader’s time.
Once people open your emails, you’ll want them to convert by requesting your offer.
The conversion rate is the percentage of recipients who clicked on a link in your emails and completed an action. For example, perhaps you want realtors to complete a form to contact you. Perhaps you want readers to download an eBook or tool you’re offering.
To calculate your conversion rate, divide the number of people who completed the action by the number of emails delivered. Multiple this number by 100 for a percentage.
To improve your conversion rate, consider writing strong call-to-action (CTA) language. Make sure the CTA stands out on the page. Use contrasting colors or animations to grab the reader’s attention.
The conversion rate will indicate how successful your email marketing campaigns are at accomplishing your goals.
There are two kinds of bounces you should track: hard and soft bounces.
Soft bounces indicate a temporary problem that kept the email from reaching the recipient’s inbox. For example, maybe there’s a problem with their server or their inbox is full.
Hard bounces occur due to closed or invalid email addresses. Clean your email data regularly to avoid a high bounce rate.
To calculate your bounce rate, divide the number of total bounced emails by the number of emails sent. Multiple by 100.
Improve your bounce rate by monitoring your lists.
Your email sharing/forwarding rate indicates how many people are sharing your emails with others.
Calculate this email metric by dividing the number of clicks on the Share button by the number of delivered emails. Multiple by 100 for a percentage.
Increasing this metric will help you attract new contacts and leads. Encourage your subscribers to share your emails. Offer helpful resources that realtors will want to share with their own audiences.
List Growth Rate
The list growth rate indicates how many new subscribers you’re attracting.
Calculate the list growth rate with this equation: ([(number of new subscribers) – (number of unsubscribes)] ÷ total number of people on your list]) * 100.
Growing your email subscription list allows you to expand your reach and grow your audience. It can also help you position yourself as a thought leader.
If your list isn’t growing, consider offering freebies, tools, or other resources. Use lead magnets or download a realtor email list.
The unsubscribe rate is the percentage of recipients who unsubscribe from your email list. If your unsubscribe rate is increasing, it’s possible that you’re sending too many emails. Perhaps your content fails to resonate with your audience.
Consider activating a double opt-in to ensure realtors know they’re subscribing to your emails. You can build a realtor email list of people who want your content.
Make sure your email subject lines don’t appear spammy. If people think your content is spam, they’ll unsubscribe.
Your overall return on investment (ROI) is your total revenue divided by your total spend. Companies generate an ROI of $42 for every dollar spent on email marketing. You can use the metrics above to improve your ROI over time.
Track These Email Marketing Metrics
Knowing which email marketing metrics to track can help you improve your email campaigns over time. You can clean your realtor email list and start sending relevant real estate emails to your subscribers. Start tracking these metrics and improving your email marketing ROI today.
Want to start your next real estate email marketing campaign off strong? We can help.
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